Coty Inc. (NYSE: COTY ) is one of Goldman Sachs' top penny stock picks . On February 9, Canaccord Genuity lowered its price target for Coty Inc. (NYSE:COTY) to $2.50 from $3.50, while maintaining a Hold rating.
Meanwhile, Coty issued disappointing guidance, signaling a potential sequential decline despite year-over-year comparisons. The company expects like-for-like sales to decline by mid-single digits due to weakening Consumer Beauty sales trends, and has also withdrawn fiscal year 2026 adjusted EBITDA and free cash flow guidance.
"Our financial performance over the past year and a half has been disappointing, and our current share price reflects that reality. […].In parallel, we are continuing our portfolio review to identify opportunities to unlock shareholder value in both the near and long term, complemented by other value-driving initiatives, such as the recent divestiture of our remaining stake in Wella at the end of CY25, which delivers on our commitment.
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